“If love is the answer, community is the context. Tenderness is the methodology— tenderness is the way.” Father Gregory Boyle

10 February 2016

Gold Daily and Silver Weekly Charts - The Mask of Agamemnon

"Of this Logos, the Word, being eternal men have proven to be uncomprehending, both before they hear and once they have heard it. For although all things happen according to this Word, they are like the uneducated who first experience words and deeds such as when I distinguish each thing according to its essence and show how it is.

And as for the rest, they are as unaware of what they do when they are awake, as they are when they are asleep."

Heraclitus

Heraclitus was a grouchy old cuss, wasn't he? As I recall he ended badly, becoming a hermit or something like that. Much of what he said comes as fragments quoted by his contemporaries such as Plato and Euripides.

The Greeks had a true, monumental civilisation when most of Europe was still living in mud huts and hauling very large stones about for something spiritual to do. How have the mighty fallen indeed.

I picked up some of Heraclitus' material today and reread it, for some reason that escapes me now. It seemed like the thing to do in the spirit of change after stripping the old caulk from the bathroom and replacing it with new silicon caulk, which is stubbornly clingy, not amenable to differing bends and curves, and hard to work with and clean up afterwards. Rather like most economic theories, especially those concerning money.

What remains to us from those days, except for their words, their wondrous monuments, and their artifacts, fashioned from enduring things, like gold?

Gold had another run up at 1200 today, as stocks did a rally attempt on Yellen's dovish words and then fell back down hard below key resistance.

I also bought a small position in a miner today, so my bullion positions would not become lonely.

There was a rather large delivery in gold at The Bucket Shop yesterday. The box scores are included below.

Uncle Buck swooned a bit more, most likely compliments of the fumbling Fed.

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Need Little - Want Less - Love More

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

"In the Incarnation the whole human race recovers the dignity of the image of God. Thereafter, any attack even on the least of men is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all. Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind." Dietrich Bonhoeffer

"A credibility trap is when the managerial functions of a society have been sufficiently compromised by corruption so that the leadership cannot reform, or even honestly address, the problems of that system without implicating a broad swath of the powerful, including themselves.

The moneyed interests and their aspirants tolerate the corruption because they have profited from it, and would like to continue to do so. Discipline is maintained by various forms of soft financial rewards and career and social coercion."

These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from learning by my mistakes, which are many. As a standing policy I never provide individual investment advice to anyone. I will only occasionally disclose my personal positions for purposes of illustration. Understand that my own circumstances could differ greatly from your own, and therefore what is suitable for me may not be suitable for you. My comments are intended to be reflection on general macro financial and economic events and trends.